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Fairfax County officials have agreed to the terms for a $403 million federal loan for the second phase of Metro's Silver Line.

The county's board of supervisors approved the terms at a Tuesday meeting.

The board U.S. Department of Transportation loan will cover about 45 percent of the county's estimated $915 million share for the new rail line. The board says the loan offers a competitive interest rate and flexible repayment terms, allowing the county to defer payments for five years after the project is finished.

The second phase of the Silver Line will connect Metro to Dulles International Airport and is set to be finished in 2018.

The total cost for the entire Silver Line, which began service in July, comes in at $5.6 billion.